Nice piece Jack. I am not sure that a return to the gold standard or viable, or optimal. Nonetheless, you paint a nice picture that illustrates the “dematerialization” of money.
A return to a Gold standard would require so much debt unwinding that it's practically impossible. The move from hard money to funny money has allowed us to significantly push the boundaries of credit and leverage, that would be impossible under the 'constraints' of hard money.
Money as you succintly put it, has indeed become a type of 'good'.
Nice piece Jack. I am not sure that a return to the gold standard or viable, or optimal. Nonetheless, you paint a nice picture that illustrates the “dematerialization” of money.
Bartering goods>commodities/coinage>paper money>digital transactions.
This is the core of progress, finding ways or doing more with less, using atoms more efficiently. We have literally evaporated money as a tangible “good.” https://www.lianeon.org/p/the-evaporation-of-everything
A return to a Gold standard would require so much debt unwinding that it's practically impossible. The move from hard money to funny money has allowed us to significantly push the boundaries of credit and leverage, that would be impossible under the 'constraints' of hard money.
Money as you succintly put it, has indeed become a type of 'good'.